Political Soc 5 - Power and Sociology - The Importance of Social Class

Political Soc 5 - Power and Sociology - The Importance of Social Class

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Unformatted text preview: On the night the Titanic sank on her maiden voyage acr oss the Atlantic in 1912, social class pr oved to be a key deter minant of who sur vived and who 3% of the fir st-class passenger s died. 14% of the second-class passenger s died. 45% of the thir d-class passenger s died. Social class is the social position of an individual or gr oup. Social str atification is the system of str uctur ed inequality, how society cr eates layer s or str ata. The Amer ican Class Str uctur e Sour ce: Adapted fr om Dennis Gilber t, The Amer ican Cla ss Str uctur e, 6 th . Belmont, Califor nia: Thomson, 2003, p. 17. H ow do sociologists study social inequality? Economic I nequality in the United States Economic inequality includes wealth and income inequality. The Richest Amer icans, 2009 Net Wor th Sour ce Bill Gates $50,000,000,000 M icr osoft War r en Buffett 40,000,000,000 Ber kshir e H athaway Lawr ence Ellison 27,000,000,000 Or acle Chr isty Walton & family 21,500,000,000 Wal- M ar t Jim C. Walton 19,600,000,000 Wal- M ar t Alice Walton 19,300,000,000 Wal-M ar t S. Robson Walton 19,000,000,000 Wal-M ar t M ichael Bloomber g 17,500,000,000 Bloomber g Char les Koch 16,000,000,000 manufactur ing, ener gy David Koch 16,000,000,000 The Richest Amer icans, continued Net Wor th Sour ce Steven Ballmer 13,300,000,000 M icr osoft Geor ge Sor os 13,000,000,000 hedge funds Donald Br en 12,000,000,000 r eal estate Paul Allen 11,500,000,000 M icr osoft Abigail Johnson 11,500,000,000 Fidelity For est E. M ar s 11,000,000,000 candy, pet food Jacqueline M ar s 11,000,000,000 candy, pet food John M ar s 11,000,000,000 candy, pet food Car l I cahn 10,500,000,000 lever aged buyouts The top 1% of households have 35% of the wealth in America. The next 19% of households have 50% of the wealth in America. The bottom 80% of households have 15% of the wealth in America. The bottom 40% of households have 2% of the wealth in America. We can have a democr acy in this countr y, or we can have gr eat wealth concentr ated in the hands of a few, but we cant have both.- Louis Br andeis Supr eme Cour t I n 2008, only 19% of the income r epor ted by the 13,480 individuals or families making over $10 million came fr om wages and salar ies....
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Political Soc 5 - Power and Sociology - The Importance of Social Class

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